With a Reverse Mortgage Loan, You Can Finance These Expenses with Home Equity.
Plus, you can have a number of additional benefits and protections.
Here’s why:
TThe Home Equity Conversion Mortgage, or HECM, is the most common type of reverse mortgage loan.
They eliminate existing forward mortgages and do not require monthly payments going forward.
Instead, homeowners simply need to take care of property expenses like taxes, insurance, and home maintenance.
HECMs offer great flexibility in choices for loan payouts, enabling the homeowner to take control of their financing and cashflow options.
Because those proceeds are considered a loan, not income, they are tax free, and do not interfere with social security and Medicare.
Financial Security and Funding for Medical Expenses
What Could That Do For You?
HECMs Offer So Much More! Here’s a Preview:
No Changes to Homeownership
When a borrower takes a HECM loan on their home, they remain the sole owner of the home just as they were before. They can stay in the home or sell it as they choose.
Multiple Tax-Free Payout Options*
You can choose between the following options or a combination: lump sum, monthly payments (to you!), or a line of credit where the unused portion grows over time and cannot be frozen or canceled.
Protections for Peace of Mind
The Federal Housing Administration (FHA) guarantees the borrower (or heirs) will not pay out of pocket if the loan exceeds the home’s value at the time of sale, and much more!
Pay for Aging-in-Place Renovations
As a part of long-term care, HECMs can help seniors make their homes safer, more accessible and comfortable for staying in the family home for the long haul.
Why Work with Leslie and Movement Mortgage?
When You Work with Leslie, You Know:
Leslie has helped numerous seniors access the equity in their homes to improve their quality of life in retirement.
Many of His Clients Have Been with Him for 25+ Years
He Makes the Loan Process As Simple As Possible
He Believes in Custom Solutions—Not One-Size-Fits-All
Movement Is an “Impact Lender”
Any mortgage lender that commits at least 10% of its profits to helping the neighborhoods it serves is an Impact Lender. By giving borrowers the choice to have profits distributed to do good in communities, lenders can create deeper, more valuable connections.
At Movement, we are Impact Lenders. We give 40%-50% of our profits to making an impact in our communities. For us, purpose and people have always come before profit. And while we’re the first Impact Lender, we hope we’re not the only one. We invite all lenders to be Impact Lenders.
Let’s Get Moving
Whether you’d like peace of mind for medical expenses, stop making monthly mortgage payments, or more, I’m here to help.
*consult a tax/financial professional